Trimble Navigation Ltd. (NASDAQ:TRMB) Forecasted to Post Q3 2017 Earnings of $0.33 Per Share
Trimble Navigation Ltd. (NASDAQ:TRMB) – Investment analysts at Northcoast Research raised their Q3 2017 earnings per share estimates for shares of Trimble Navigation in a research note issued on Thursday. Northcoast Research analyst T. Hayes now expects that the scientific and technical instruments company will earn $0.33 per share for the quarter, up from their prior estimate of $0.32.
Several other equities analysts have also issued reports on TRMB. BidaskClub lowered Trimble Navigation from a “buy” rating to a “hold” rating in a research report on Tuesday, August 1st. Oppenheimer Holdings, Inc. restated an “outperform” rating and set a $41.00 target price (up from $39.00) on shares of Trimble Navigation in a research report on Friday. Dougherty & Co boosted their target price on Trimble Navigation from $40.00 to $45.00 and gave the stock a “buy” rating in a research report on Wednesday, July 26th. Needham & Company LLC restated a “buy” rating and set a $42.00 target price (up from $37.00) on shares of Trimble Navigation in a research report on Thursday. Finally, Craig Hallum restated a “hold” rating and set a $36.00 target price (up from $30.00) on shares of Trimble Navigation in a research report on Thursday. Four investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $40.50.
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Shares of Trimble Navigation (NASDAQ:TRMB) opened at 37.75 on Monday. Trimble Navigation has a 1-year low of $25.30 and a 1-year high of $39.00. The stock has a market capitalization of $9.55 billion, a price-to-earnings ratio of 54.71 and a beta of 2.31. The firm’s 50-day moving average is $36.91 and its 200-day moving average is $33.67.
Trimble Navigation (NASDAQ:TRMB) last posted its quarterly earnings data on Wednesday, August 2nd. The scientific and technical instruments company reported $0.33 EPS for the quarter, missing analysts’ consensus estimates of $0.35 by $0.02. Trimble Navigation had a net margin of 7.25% and a return on equity of 12.71%. The firm had revenue of $661.90 million for the quarter, compared to analysts’ expectations of $643.05 million. During the same period in the prior year, the company posted $0.29 earnings per share. Trimble Navigation’s quarterly revenue was up 8.6% compared to the same quarter last year.
Several institutional investors have recently added to or reduced their stakes in the stock. BlackRock Inc. boosted its position in Trimble Navigation by 6,646.3% in the first quarter. BlackRock Inc. now owns 22,577,637 shares of the scientific and technical instruments company’s stock valued at $722,710,000 after buying an additional 22,242,969 shares during the period. Vanguard Group Inc. boosted its position in Trimble Navigation by 4.5% in the first quarter. Vanguard Group Inc. now owns 20,464,940 shares of the scientific and technical instruments company’s stock valued at $655,082,000 after buying an additional 879,694 shares during the period. Wellington Management Group LLP boosted its position in Trimble Navigation by 2.0% in the first quarter. Wellington Management Group LLP now owns 11,273,004 shares of the scientific and technical instruments company’s stock valued at $360,849,000 after buying an additional 217,701 shares during the period. State Street Corp boosted its position in Trimble Navigation by 1.3% in the first quarter. State Street Corp now owns 8,157,478 shares of the scientific and technical instruments company’s stock valued at $261,115,000 after buying an additional 103,450 shares during the period. Finally, King Luther Capital Management Corp boosted its position in Trimble Navigation by 1.6% in the first quarter. King Luther Capital Management Corp now owns 3,574,016 shares of the scientific and technical instruments company’s stock valued at $114,404,000 after buying an additional 56,046 shares during the period. Institutional investors and hedge funds own 90.56% of the company’s stock.
In other news, Director Mark S. Peek sold 11,717 shares of Trimble Navigation stock in a transaction dated Friday, June 2nd. The stock was sold at an average price of $36.35, for a total transaction of $425,912.95. Following the transaction, the director now owns 30,000 shares in the company, valued at approximately $1,090,500. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP James Veneziano sold 9,426 shares of Trimble Navigation stock in a transaction dated Monday, May 22nd. The shares were sold at an average price of $35.73, for a total value of $336,790.98. The disclosure for this sale can be found here. Insiders have sold a total of 142,263 shares of company stock valued at $5,094,328 over the last 90 days. Corporate insiders own 1.40% of the company’s stock.
About Trimble Navigation
Trimble Inc, formerly Trimble Navigation Limited, is engaged in providing technology solutions that enable professionals and field mobile workers to transform their work processes. The Company’s solutions are used across a range of industries, including agriculture, architecture, civil engineering, survey and land administration, construction, geospatial, government, natural resources, transportation and utilities.
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